Bitcoin price today: slips below $113k, near 6-wk low despite Fed cut bets
SINGAPORE - JBDI Holdings Limited (NASDAQ:JBDI), a provider of environmentally friendly products and services, revealed Monday that its board of directors has sanctioned a new share repurchase program. Under this initiative, the company plans to buy back up to $1 million of its ordinary shares. The announcement comes as JBDI’s stock trades at $0.82, having declined nearly 10% over the past week, according to InvestingPro data.
The repurchase of shares will be carried out through various methods, which may include transactions on the open market at prevailing prices, privately negotiated deals, block trades, or other legal avenues, subject to market conditions and regulatory compliance. The timing and volume of repurchases will be determined by the company’s management based on market conditions and other factors. InvestingPro analysis indicates the company operates with a moderate debt level, though its current ratio of 0.82 suggests some liquidity constraints.
JBDI Holdings, with a history spanning almost four decades, is recognized in Singapore and Southeast Asia for its reconditioning and recycling of drums and related containers. The company’s service offerings include a variety of reconditioned steel and plastic drums, new containers, and ancillary services, all aimed at helping customers minimize their environmental footprint while optimizing resource use and cutting costs.
The share repurchase program is subject to periodic review by the board, which may lead to adjustments in its terms and size as deemed appropriate.
The announcement includes forward-looking statements which are subject to risks and uncertainties. These statements do not guarantee future performance and may differ materially from actual results. The company has stated that it assumes no obligation to update any forward-looking statements unless required by law.
This news is based on a press release statement from JBDI Holdings Limited. The company’s mission and operational focus emphasize environmental stewardship and cost-efficiency for its clients. According to InvestingPro analysis, JBDI appears overvalued at current levels, with a notably high Price-to-Book ratio of 42.25x. Subscribers can access 7 additional ProTips and comprehensive financial metrics to better evaluate this investment opportunity.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.